The study involved four major activities for estimating the microgrid market size. Exhaustive secondary research has been conducted to collect information relevant to the market, its peer markets, and its child market. Primary research has been undertaken to validate key findings, assumptions, and sizing with industry experts across the value chain of the microgrid market. Both top-down and bottom-up approaches have been employed to estimate the complete market size. It has been followed by the market breakdown and data triangulation methods to estimate the size of different segments and subsegments of the market.
Secondary Research
The research methodology used to estimate and forecast the size of the microgrid market began with the acquisition of data related to the revenues of key vendors in the market through secondary research. Various secondary sources have been referred to in the secondary research process for identifying and collecting information for this study. Secondary sources include annual reports, press releases, and investor presentations of companies; white papers, journals, certified publications, and articles by recognized authors; websites; directories; and databases. Secondary research has mainly been used to obtain key information about the supply chain of the microgrid market, the value chain of the market, key players, market classification, and segmentation according to the industry trends to the bottom-most level, geographic markets, and key developments from both market and technology-oriented perspectives. Secondary data has been collected and analyzed to determine the overall market size, further validated through primary research. The secondary research referred to for this research study involves the International Energy Association (IEA), Microgrid Knowledge, Solar Energy Industries Association (SEIA), Institute of Electrical and Electronics Engineers (IEEE) Smart Grid, and Clean Energy Council. Moreover, the study involved extensive use of secondary sources, directories, and databases, such as Hoovers, Bloomberg Businessweek, Factiva, and OneSource, to identify and collect valuable information for a technical, market-oriented, and commercial study of the microgrid market. Vendor offerings have been taken into consideration to determine market segmentation.
Primary Research
In the primary research, various primary sources from both the supply and demand sides have been interviewed to obtain the qualitative and quantitative information relevant to this report. Primary sources from the supply side include the key industry participants, subject-matter experts (SMEs), and C-level executives and consultants from various key companies and organizations in the microgrid ecosystem. After the complete market engineering (including calculations for the market statistics, the market breakdown, the market size estimations, the market forecasting, and the data triangulation), extensive primary research has been conducted to verify and validate the critical market numbers obtained. Extensive qualitative and quantitative analyses have been performed during the market engineering process to list key information/insights throughout the report. Extensive primary research has been conducted after understanding the microgrid market scenario through secondary research. Several primary interviews have been conducted with market experts from the demand and supply-side players across key regions, namely, the Americas, Europe, Asia Pacific, and the Rest of the World (Middle East & Africa). Various primary sources from both the supply and demand sides of the market have been interviewed to obtain qualitative and quantitative information. Following is the breakdown of the primary respondents.
Primary data has been collected through questionnaires, emails, and telephonic interviews. In the canvassing of primaries, various departments within organizations, such as sales, operations, and administration, were covered to provide a holistic viewpoint in our report. After interacting with industry experts, brief sessions were conducted with highly experienced independent consultants to reinforce the findings from our primaries. This and the in-house subject matter experts’ opinions have led us to the findings described in the remainder of this report.
To know about the assumptions considered for the study, download the pdf brochure
Market Size Estimation
The total size of the microgrid market has been estimated and validated using both top-down and bottom-up approaches. Furthermore, these methods have also been used extensively to estimate the size of various subsegments in the market. The research methodology used to estimate the market size is as follows:
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Identifying different entities influencing the value chain of the microgrid market
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Identifying major companies, system integrators, and service providers operating in the market
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Estimating the size of the microgrid market for each region based on demand for microgrids
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Tracking the ongoing and upcoming microgrid projects to forecast the market size based on these developments and other critical parameters
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All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.
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Qualitative aspects such as market drivers, restraints, opportunities, and challenges have been taken into consideration while calculating and forecasting the market size.
Global Microgrid Market Size: Bottom-Up Approach
Global Microgrid Market Size: Top-down Approach
Data Triangulation
After arriving at the overall size of the microgrid market from the market size estimation process explained above, the total market has been split into several segments and subsegments. Data triangulation and market breakdown procedures have been employed, wherever applicable, to complete the overall market engineering process and arrive at the exact statistics for all segments and subsegments of the market. The data has been triangulated by studying various factors and trends from both the demand and supply sides. Along with this, the market size has been validated using both top-down and bottom-up approaches.
Market Definition
A microgrid is a self-sufficient energy system that serves a discrete geographic footprint, such as college campuses, hospital complexes, business centers, or neighborhoods. It acts as a single controllable entity for energy generation with respect to a grid. A microgrid can be connected to or disconnected from the main grid to enable it to operate in either grid-connected or off-grid-connected (island) mode. It can be used as a backup or supplementary power source for the main grid when there is an increased demand for electricity. A microgrid comprises one or more kinds of distributed energy hardware (solar panels, wind turbines, controllers, generators) that help produce power. Microgrids are used by end users such as commercial & industrial buildings, institutes & campuses, military facilities, government buildings, healthcare facilities, remote areas, and utilities.
Stakeholders:
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Raw material suppliers and microgrid developers
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Distribution network service providers
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Power-generating companies, retailers, and consultants
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Industrial and commercial end users
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Government agencies such as energy regulators and policymakers
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Energy producers
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Electric utilities
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End-use verticals utilizing microgrid services such as commercial & industrial buildings, military facilities, remote areas, institutes & campuses, and healthcare facilities
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Consultants for ensuring energy efficiency and sustainability
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Research organizations
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Technology standard organizations, forums, alliances, and associations
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Venture capitalists, private equity firms, and startups
Report Objectives
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To define, describe, segment, and forecast the size of the microgrid market by connectivity, offering, and end-user in terms of value
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To describe the various types, patterns, power sources, and power ratings of microgrids
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To describe and forecast the market for four main regions, namely, the Americas, Asia Pacific, Europe, and Rest of the World, in terms of value
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To provide detailed information regarding the drivers, restraints, opportunities, and challenges influencing the growth of the market
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To provide a detailed overview of the value chain of the microgrid ecosystem
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To strategically analyze micro-markets with respect to individual growth trends, prospects, and their contributions to the overall market
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To strategically analyze the ecosystem, Porter’s five forces, regulations, region-wise regulations, upcoming technologies in the market, revenue shift model in the market, patent landscape, trade landscape, and case studies pertaining to the market under study
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To analyze opportunities in the market for the stakeholders by identifying high-growth segments in the market
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To strategically profile key players and provide details of the current competitive landscape
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To analyze strategic approaches adopted by players in the microgrid market, such as product launches and developments, acquisitions, collaborations, agreements, contracts, expansions, and partnerships
Available Customizations:
With the given market data, MarketsandMarkets offers customizations according to the company’s specific needs. The following customization options are available for the report:
Company Information:
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Detailed analysis and profiling of additional market players based on various blocks of the value chain.
Edward
Apr, 2022
Looking to get an idea of the market share of MicroGrid controllers in the U.S. including depoyment costs. .
User
Sep, 2019
Decentralization of energy generation is one of the important trends these days, could you share the list of ongoing and upcoming microgrid projects in Asia Pacific and the Middle East regions? Also, could you share specific information about the regulations and policies across the regions for energy saving?.
User
Sep, 2019
I am looking for technological mix and trends - Economies of scale - Major players - Geographies likely to adapt Microgrids -Developers - Policies and regulatory support - Funding and financial viability. Can you provide this information?.
User
Sep, 2019
Can I get an India-only cut of this report? Does it have market size projections by value chain component (e.g., building microgrids, operating and maintaining microgrids), by type (connected to main grid vs. disconnected) and sector? If so, please advise best price ASAP - I am looking to sort this out in the next 2 hours..
User
Nov, 2019
I am interested in commercial aspects in the US and UK only. And, would like to see information by total US and by region within the US. Is that possible? Can just the 2 countries be purchased? and if so at what cost?.
User
Mar, 2019
We are a componment/system supplier in this market and getting this down to a unit level is helpful. I see that there is a $7m figure for a 2MW microgrid system. Should I simply divide by that? It also shows ABB with 30 projects per year. Do you have similar data to that for other companies?.